advanced search

Construction Watch

Jun 1, 2003 12:00 PM, By EC&M Staff

The residential construction boom hit its peak in 2002 but began to slip in the first quarter of 2003 due to weather conditions and consumer and builder sentiment. The market, however, may increase in volume through the next few months before leveling out in the fall, according to FMI's Construction Outlook: Second Quarter 2003 Report. The second quarter 2003 outlook for construction put-in-place was revised upward due to a possible improvement in the residential construction market. Low mortgage rates, moderate home prices, and strong personal incomes are helping the construction market continue at its 2002 pace, but interest rates and tightening lending regulations could cause a slowdown in 2004. The commercial sector, however, could rebound because of less high-profile bankruptcies, mass layoffs, and a higher availability of bank credit. The February 2003 value of nonresidential building construction was $159.8 billion, which was 0.3% above the revised January estimate of $158.3 billion. The commercial construction market may show signs of improvement after hitting rock bottom, but FMI forecasts that low volumes could continue for another year. Construction of amusement and recreation facilities may experience a slowdown in 2003 because of a drop in leisure travel, reduced availability of public and private funds, and a weak economy. FMI also predicts that the construction of university stadiums and public art galleries will fail to rise up to 2002 levels. The weakness in the commercial sector may soon spread to the public sector, where contractors may face a budget crunch at both the state and federal level.

Want to use this article? Click here for options!

© 2008 Penton Media, Inc.

  

	Arlington Indoor InBox Easy install makes Indoor InBox preferred for power & low voltage applications. Furniture and appliances stay close to the wall!...

"Sizing Gen-Sets: Facts, Hints, and Good Judgment"

Sponsored By:

Learn how HRG technology can mitigate and reduce the arc flash hazard; design considerations to remember when specifying and installing an HRG system. On-Demand Webinar - Sponsored by I-Gard

Browse Back Issues Select an Issue August 1, 2008 July 2008 June 1, 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006 August 2006 July 2006 June 1, 2006 May 1, 2006 April 2006 March 1, 2006 February 2006 January 2006 December 2005 November 2005 October 2005 September 2005 August 2005 July 2005 June 2005 May 2005 April 2005 March 2005 February 2005 January 2005 December 2004 November 2004 October 2004 September 2004 August 2004 July 2004 June 2004 May 2004 April 2004 March 2004 February 1, 2004 January 1, 2004 December 1, 2003 November 1, 2003 October 1, 2003 September 1, 2003 August 1, 2003 July 1, 2003 June 1, 2003 May 1, 2003 April 1, 2003 March 1, 2003 February 1, 2003 January 1, 2003 December 1, 2002 November 1, 2002 October 1, 2002 September 1, 2002 August 1, 2002 July 1, 2002 June 1, 2002 May 1, 2002 April 1, 2002 March 1, 2002 February 1, 2002 January 1, 2002 December 1, 2001 November 1, 2001 October 1, 2001 September 1, 2001 August 1, 2001 July 1, 2001 June 1, 2001 May 1, 2001 April 1, 2001 March 1, 2001 February 1, 2001 January 1, 2001 December 1, 2000 November 1, 2000 October 1, 2000 September 1, 2000 August 1, 2000 July 1, 2000 June 1, 2000 May 1, 2000 April 1, 2000 March 1, 2000 February 1, 2000 January 1, 2000 December 1, 1999 November 1, 1999 October 1, 1999 September 1, 1999 August 1, 1999 July 1, 1999 June 1, 1999 May 1, 1999 April 1, 1999 March 1, 1999 February 1, 1999 January 1, 1999 December 1, 1998 November 1, 1998 October 1, 1998 September 1, 1998 August 1, 1998 July 1, 1998 June 1, 1998 May 1, 1998 April 1, 1998 March 1, 1998 February 1, 1998 January 1, 1998 December 1, 1997 November 1, 1997 December 1, 1996 November 1, 1996 October 1, 1996 September 1, 1996 August 1, 1996 July 1, 1996 June 1, 1996 May 1, 1996 April 1, 1996 March 1, 1996 February 1, 1996 January 1, 1996 December 1, 1995 November 30, 1995 November 1, 1995 October 1, 1995 September 1, 1995 August 1, 1995 July 1, 1995 June 1, 1995 May 1, 1995 April 1, 1995 March 1, 1995 February 1, 1995

browse e-newsletters